“I knew what I was doing was wrong.”

“I agreed with Mr. Bankman-Fried and others not to publicly disclose the true nature of the relationship between Alameda and FTX, including Alameda’s credit arrangement.”

“I am truly sorry for what I did.”

These statements belong to Caroline Ellison, the former CEO of Alameda Research.

According to Ellison, “If Alameda’s FTX accounts had significant negative balances in any particular currency, it meant that Alameda was borrowing funds that FTX’s customers had deposited on the exchange.”

However, Ellison had previously denied that Alameda received any special treatment from FTX, saying “We’re arm’s length and don’t get any different treatment from other market makers,” to Bloomberg News in an interview over the summer.

In the transcript covering the prosecution proceeding in the Manhattan District on December 23., Ellison said “from 2019 through 2022, I was aware that Alameda was provided access to a borrowing facility on FTX.com, the cryptocurrency exchange run by Mr. Bankman-Fried.”

#cryptonews #blockchain #ftx #sbf #sambankmanfried

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